Premium Trust Bank E-Payment Manager Arraigned Over Alleged Cybercrime and Server Hack
Matthew Adeniyi, Premium Trust Bank’s e-payment service manager, has been arraigned before a Federal High Court in Lagos on serious allegations of hacking into the bank’s server. This case marks a significant legal development in cybersecurity violations within Nigeria’s banking sector.
Defendants and Charges
Adeniyi faces charges alongside four co-defendants: Kehinde Odeyemi (a nursing mother), Samson Latshin, Bolaji Omotosho, and Sunday Okunnola. The Economic and Financial Crimes Commission (EFCC) brought six counts against them before Justice Alexander Owoeye, including:
- Conspiracy
- Cybercrime
- Unlawful access to the bank’s database
Allegations and Security Breach Details
Prosecutor Mrs. Zeenat Atiku alleged that the defendants committed these offenses between April and May 2025, collaborating with three additional suspects currently at large:
- Isa Ismaila
- Victor Joshua (alias ‘Oracle’)
- An individual identified only as Humble
The prosecution claims Adeniyi unlawfully disclosed highly sensitive credentials, including the bank’s server IP and domain details, to his accomplices. This breach reportedly resulted in:
- Unauthorized access to the bank’s database
- A financial loss of $10,000
- Attempted interception of network security systems
Investigators also revealed the defendants procured a specially configured Hewlett-Packard ProBook 440 G9 laptop (serial number SN#5CD2473N6G) designed to bypass the bank’s cybersecurity protocols.
Legal Proceedings and Bail Status
Despite pleading not guilty, the defendants face charges under sections 12(1)(b), 27, 28(1)(b)(c), and 28(3) of the Cybercrimes (Prohibition) Act, 2015 (as amended in 2024). Key developments include:
- The prosecution requested a trial date and defendant remand
- The court denied an oral bail application, requiring formal submission
- Justice Owoeye adjourned the case to June 30 for trial
- Defendants remanded at Nigerian Correctional Centre pending bail hearing
Broader Context of Financial Cybercrime
This case highlights growing concerns about cybersecurity in Nigeria’s financial sector. Recent related cases include:
- The Enugu Court of Appeal upholding a 7-year sentence for a GTBank employee in a N50 million loan fraud
- An Access Bank Plc staff member allegedly causing a N5 billion fraud through unauthorized server access
Experts recommend financial institutions strengthen security frameworks and promote safer digital banking practices to mitigate such risks.
Full credit to the original publisher: Nairametrics